UK government borrowing costs fall as Reeves hints at tax rises – as it happened

US soy futures reached a 17-month high amid uncertainties regarding China's agricultural purchases from the US. Traders are anticipating a yield cut in the upcoming US Department of Agriculture report, which is expected to sustain bullish market sentiment.

The Guangzhou Futures Exchange is set to launch China's first derivatives market for platinum and palladium, providing essential data on stockpiles of these precious metals. This move comes as the market tightens, offering valuable insights into demand dynamics, which could influence global pricing and investment strategies in the precious metals sector.

UBS has projected that emerging markets in Asia are poised for gains in 2026, highlighting a positive outlook for the region. The financial institution has adopted an 'overweight' investment stance on China, indicating confidence in its economic performance. Conversely, UBS has decided to cut its investment stance on Thailand, suggesting a more cautious approach towards the country's market. This shift in investment strategy reflects broader trends and investor sentiment in the region, making it a significant development for stakeholders in Asian markets.

Japan and China are engaged in heightened tensions over Taiwan, coinciding with the election of hawkish Prime Minister Sanae Takaichi and the unpredictable nature of U.S. foreign policy under Trump. This situation is significant as it reflects shifting power dynamics in the region and raises concerns about stability in East Asia.

The Senate has opted not to address health insurance subsidies, which is a significant factor contributing to the ongoing government shutdown. This decision reflects the complexities of legislative negotiations surrounding healthcare funding and its implications for millions of Americans relying on these subsidies. The failure to resolve this issue may prolong the shutdown and exacerbate the challenges faced by those dependent on health insurance support. The article also touches on other topics such as BillionToOne's IPO, China's advancements in biotechnology, and Lilly's recent eye drug deal, highlighting the broader context of innovation in the healthcare sector.

The UK government has officially selected Wylfa, located on Anglesey (Ynys Mon), as the site for the country's first small modular reactor nuclear power station. This decision marks a significant step in the UK's energy strategy, aiming to enhance energy security and reduce carbon emissions through innovative nuclear technology. The establishment of this facility is expected to contribute to the transition towards cleaner energy sources and support the UK's commitment to sustainable development.

Solvay, a Belgian company, has signed two contracts to supply rare earths to the United States, highlighting Europe's struggle to compete with the U.S. in breaking China's dominance in this critical market. The deals are significant as they underscore the ongoing geopolitical competition over rare earth resources.

Nick Glynne, the boss of Buy It Direct, has stated that the implementation of artificial intelligence (AI) will lead to a reduction of two-thirds in the workforce. He attributed this significant decrease to increased business taxes in the UK, which he claims have accelerated the adoption of AI technologies. This development raises concerns about the future of employment in the retail sector and highlights the broader implications of AI on job security and economic stability.